Ryerson Acquires Production Metals

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Aug 02, 2024, 17:15 ET

CHICAGO, Aug. 2, 2024 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today its acquisition of Production Metals, LLC ("Production Metals"), a distributor of aluminum, stainless, and specialty steels. Based in Monroe, Connecticut, Production Metals serves New England and the surrounding area with bar, tube, sheet, and plate products along with precision sawing, lasering, and water jet cutting.

"On behalf of all Ryerson Stakeholders, we could not be more excited in welcoming Production Metals to the Ryerson Family of Companies, as we have here the opportunity to bolster our value-added aluminum, stainless, and specialty steel offerings in the Northeastern United States and throughout the entire Ryerson network of service centers," said Eddie Lehner, Ryerson's President and Chief Executive Officer. "In addition to serving the aerospace, defense, and semiconductor end markets, Production Metals has a reputation for service that aligns with Ryerson's commitment to providing great customer experiences, and their precision cutting capabilities add to our value-added business. Craig and his team at Production Metals have proven over the past five-plus years that creative entrepreneurship is alive and thriving in our industry, and we look forward to seeing that vision through to its fullest potential."

Craig Yarde, Chief Executive Officer of Production Metals, stated, "Our globally sourced network of mills and suppliers enables Production Metals to provide cost savings and quick, seamless delivery to customers. As we join the Ryerson Family of Companies, we are pleased to bring with us our expertise in aluminum, stainless, and specialty steel products."

About Ryerson

Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 4,400 employees in over 110 locations. Visit Ryerson at www.ryerson.com.

Safe Harbor Provision

Certain statements made in this release and other written or oral statements made by or on behalf of the Company constitute "forward-looking statements" within the meaning of the federal securities laws, including statements regarding our future performance, as well as management's expectations, beliefs, intentions, plans, estimates, objectives, or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as "objectives," "goals," "preliminary," "range," "believes," "expects," "may," "estimates," "will," "should," "plans," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. The Company cautions that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. Among the factors that significantly impact our business are: the cyclicality of our business; the highly competitive, volatile, and fragmented metals industry in which we operate; the impact of geopolitical events; fluctuating metal prices; our indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational risks associated with our operations located inside and outside of the United States; the influence of a single investor group over our policies and procedures; work stoppages; obligations under certain employee retirement benefit plans; currency fluctuations; and consolidation in the metals industry. Forward-looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under "Risk Factors" in our most recent our annual report on Form 10-K and in our other filings with the Securities and Exchange Commission. Moreover, we caution against placing undue reliance on these statements, which speak only as of the date they were made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events or circumstances, new information or otherwise.

SOURCE Ryerson Holding Corporation